What does Moody’s downgrade mean for the markets?

A version of this story first appeared in CNN Business’s Before the Bell newsletter. Not a subscriber? You can login exactly here. You can listen to an audio version of the newsletter by clicking the same link. CNN — Moody’s downgraded 10 US banks Monday night and put the credit ratings of six others under … Read more

Alipay and WeChat Pay now accept Visa and Mastercard for all payments in China

Hong Kong CNN — For international travelers, visiting China is now much easier. From Friday, Visitors can link their Visa (V) and Mastercard (MA) accounts to China’s most popular mobile payment platforms, allowing them to book taxis, ride the subway and pay for goods and services at millions of outlets across the nearly cashless country. … Read more

Is Biden’s $39 Billion Student Loan Forgiveness Lawsuit Legal?

President Joe Biden and Secretary of Education Miguel Cardona, June 30, 2023. Demetrius Freeman/The Washington Post via Getty Images How do the two credit relief measures differ? The latest measure is not the same as the sweeping debt relief plan the White House originally sought, which Supreme Court justices rejected in a 6-3 decision on … Read more

How much income would it take to feel rich? Here is the response of the Americans surveyed

CNN — It’s age-old questions: How much does it take to feel financially secure? How much would you need to feel rich? According to a new Bankrate survey, more than 2,500 US adults said they needed to earn an average of $233,000 a year to feel financially secure and $483,000 a year to feel wealthy … Read more

The average 401(k) account balance tops $112,000, a new report shows

new York CNN — The average balance of employer-sponsored savings plans last year was $112,572, well below the $141,542 in 2021. That’s according to the latest annual report, How America Saves, from investment firm Vanguard, which acts as bookkeeper for defined contribution plans that collectively have nearly 5 million participants with an average age of … Read more